Segall Bryant & Hamill LLC Has $30.57 Million Holdings in ITT Inc (ITT)
Segall Bryant & Hamill LLC raised its stake in ITT Inc (NYSE:ITT) by 41.3% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 584,835 shares of the conglomerate’s stock after buying an additional 170,921 shares during the period. Segall Bryant & Hamill LLC owned about 0.66% of ITT worth $30,569,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Profund Advisors LLC grew its position in shares of ITT by 9.3% in the 1st quarter. Profund Advisors LLC now owns 11,664 shares of the conglomerate’s stock valued at $571,000 after buying an additional 992 shares during the last quarter. Arizona State Retirement System grew its position in shares of ITT by 1.9% in the 2nd quarter. Arizona State Retirement System now owns 60,680 shares of the conglomerate’s stock valued at $3,172,000 after buying an additional 1,140 shares during the last quarter. Foresters Investment Management Company Inc. grew its position in shares of ITT by 1.2% in the 1st quarter. Foresters Investment Management Company Inc. now owns 150,100 shares of the conglomerate’s stock valued at $7,352,000 after buying an additional 1,800 shares during the last quarter. Envestnet Asset Management Inc. grew its position in shares of ITT by 91.6% in the 4th quarter. Envestnet Asset Management Inc. now owns 4,452 shares of the conglomerate’s stock valued at $238,000 after buying an additional 2,128 shares during the last quarter. Finally, Aperio Group LLC grew its position in shares of ITT by 14.6% in the 2nd quarter. Aperio Group LLC now owns 17,178 shares of the conglomerate’s stock valued at $898,000 after buying an additional 2,188 shares during the last quarter. Hedge funds and other institutional investors own 91.38% of the company’s stock.
In related news, insider Victoria L. Creamer sold 7,640 shares of the company’s stock in a transaction dated Monday, May 21st. The stock was sold at an average price of $55.16, for a total transaction of $421,422.40. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 1.00% of the stock is owned by corporate insiders.
ITT (NYSE:ITT) last announced its earnings results on Friday, August 3rd. The conglomerate reported $0.82 EPS for the quarter, beating the consensus estimate of $0.78 by $0.04. ITT had a return on equity of 15.40% and a net margin of 7.02%. The company had revenue of $696.80 million for the quarter, compared to analyst estimates of $685.80 million. During the same quarter in the prior year, the company earned $0.55 EPS. The firm’s revenue for the quarter was up 10.4% compared to the same quarter last year. analysts predict that ITT Inc will post 3.14 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Monday, October 1st. Investors of record on Monday, September 10th will be given a dividend of $0.134 per share. The ex-dividend date of this dividend is Friday, September 7th. This represents a $0.54 annualized dividend and a dividend yield of 0.89%. ITT’s payout ratio is 20.85%.
ITT has been the topic of a number of analyst reports. Oppenheimer reiterated a “buy” rating and issued a $67.00 price target (up previously from $60.00) on shares of ITT in a research report on Friday, August 3rd. Zacks Investment Research upgraded ITT from a “hold” rating to a “buy” rating and set a $70.00 target price on the stock in a research report on Wednesday, August 8th. Stifel Nicolaus upped their target price on ITT from $59.00 to $68.00 and gave the company a “buy” rating in a research report on Monday, August 6th. KeyCorp upped their target price on ITT from $61.00 to $65.00 and gave the company an “overweight” rating in a research report on Wednesday, June 13th. Finally, Robert W. Baird cut their target price on ITT from $64.00 to $62.00 and set an “outperform” rating on the stock in a research report on Monday, May 7th. One equities research analyst has rated the stock with a sell rating and ten have given a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus price target of $63.40.
ITT Company Profile
ITT Inc manufactures and sells engineered critical components and customized technology solutions for the energy, transportation, and industrial markets worldwide. The company operates in three segments: Industrial Process, Motion Technologies, and Connect & Control Technologies. The Industrial Process segment designs and manufactures industrial pumps, valves, and plant optimization systems; and centrifugal pumps, vertical centrifugal pumps, twin screw and positive displacement pumps, and water systems, as well as aftermarket solutions, such as repairs and upgrades services.
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